[ANN] FACTOM - Introducing Honesty to Record-Keeping

[customer73]

Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

I agree with you. 

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[Pap0u]

Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

This is very true and sad. Only reason they can do this is due to no regulations and nobody can stop them. All of crypto is manipulated in a sense by big holders, we are a purely speculative market with some projects being more concrete than others; Factom being one of them. I feel they are just doing there best to hold, make people give up and lose patience because they know this will be such a huge winner. Factom could easily have a 20-50x from here with sufficient liquidity as well to cash real substantial profit out.

[astmandu]

https://btcmanager.com/news/finance/factom-expands-blockchain-offerings-with-series-a-round/

Not sure if has been posted before, there have been so many press releases of late, but it says here 3 new employees to be announced next week, as well as continuing to grow the engineering team.

[D-Lux]

https://btcmanager.com/news/finance/factom-expands-blockchain-offerings-with-series-a-round/

Not sure if has been posted before, there have been so many press releases of late, but it says here 3 new employees to be announced next week, as well as continuing to grow the engineering team.

Nice find! So it looks like the the "3 new employees" will be in addition to building out the dev team? Wonder what those roles will be ...

[Pap0u]

Who cares about news....this is literally the only project that makes sense, generates income, has high visibility with government agencies and other big names yet price dumps based on nothing at all. Factom is probably the most unlogical trading pattern ever in crypto. Monero gets a speculative news release on a fake dark net market, generates 0 income, has 0 infastructure, yet pumps 10x LOL. The amount of fools that exist here is crazy, you are all being led off cliffs left and right because it's just so easy.

[mtnsaa]

Why do I have a feeling something or someone s intentionally keeping Factoid price low and under controls? For example, look at Monero, 1 media event and the price propels 10x up. With Factom, it s a constant stream of great events, a great team behind the entire project, an actual company, large VCs, state support, huge market potential, constant presence on most important crypto conferences, important milestone just to be reached and decreasing number of tokens. Yet, as soon as the price goes up a bit, there s a series of dumping to keep in controlled.

I ve seen some other evidence which support this claim which I do not want to reveal yet until I have a solid proof. However, most of you will agree, Factom should be doing much, much better price wise and I m not talking about one time pump. I m talking about the actual value of Factoids which give access to the technology.

This is very true and sad. Only reason they can do this is due to no regulations and nobody can stop them. All of crypto is manipulated in a sense by big holders, we are a purely speculative market with some projects being more concrete than others; Factom being one of them. I feel they are just doing there best to hold, make people give up and lose patience because they know this will be such a huge winner. Factom could easily have a 20-50x from here with sufficient liquidity as well to cash real substantial profit out.

It's not only that but we all have to consider that all projects are experimental in nature and there's actually no real world use, not even for Bitcoin. Yes you can buy and send money online jumping through hoops but no average person will bother, there's absolutely no point. If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company). Marketcaps like that and much lower are a joke and very easy to manipulate, just check Monero for instance...a pump based on lies and DNM supposed adoption. Smart traders didn't put a single cent there or if they did, they got in and out like pros.

So it's all based on hype and potential, that's it. Ethereum, Factom, Bitcoin, Ripple, you name it, it's all potential and promises but until there's no actual real adoption (not tests, rounds, phases and conventions) it will be subject to crazy speculation and swings.

[arseaboy]

Who cares about news....this is literally the only project that makes sense, generates income, has high visibility with government agencies and other big names yet price dumps based on nothing at all. Factom is probably the most unlogical trading pattern ever in crypto. Monero gets a speculative news release on a fake dark net market, generates 0 income, has 0 infastructure, yet pumps 10x LOL. The amount of fools that exist here is crazy, you are all being led off cliffs left and right because it's just so easy.

well you say it right and only fools will take the opportunity while being cooked on their own stupidity, FACTOM will really progress and we will expect that more and more.

[jjiimm_64]

 If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company).

bitcoin does solve a number of problems.. the most notable is transfer of money over the internet without a bank.. OH, and it is huge!!

edit:  why do you compare btc to a company??   is gold a company??

[mtnsaa]

 If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company).

bitcoin does solve a number of problems.. the most notable is transfer of money over the internet without a bank.. OH, and it is huge!!

edit:  why do you compare btc to a company??   is gold a company??

People just use banks and credit cards (and Paypal, Google Wallet, Apple Pay, whatever). I agree with you that people who don't have access to banks can benefit, but these are usually non tech savvy people who won't figure out how to work even the simplest wallets. Plus, how they buy Bitcoin with in the first place? Cash? nope...credit cards, banks, etc. I know because it happened to me, getting Bitcoin is a pain in the ass in third world countries, there's no simple and safe solution like Coinbase or whatever.

I understand what you are saying though, Bitcoin proposes a solution but the problem is not there yet, in terms of market at least. I  was comparing cryptocurrencies and blockchains, some have a company behind (like Factom and Ripple) so it's not clear where's the value at, if in the company or the token/currency (I think on both).

[tempus]

 If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company).

bitcoin does solve a number of problems.. the most notable is transfer of money over the internet without a bank.. OH, and it is huge!!

edit:  why do you compare btc to a company??   is gold a company??

People just use banks and credit cards (and Paypal, Google Wallet, Apple Pay, whatever). I agree with you that people who don't have access to banks can benefit, but these are usually non tech savvy people who won't figure out how to work even the simplest wallets. Plus, how they buy Bitcoin with in the first place? Cash? nope...credit cards, banks, etc. I know because it happened to me, getting Bitcoin is a pain in the ass in third world countries, there's no simple and safe solution like Coinbase or whatever.

I understand what you are saying though, Bitcoin proposes a solution but the problem is not there yet, in terms of market at least. I  was comparing cryptocurrencies and blockchains, some have a company behind (like Factom and Ripple) so it's not clear where's the value at, if in the company or the token/currency (I think on both).

Regarding Bitcoin: I believe it's the other way around. The problem for that Bitcoin could be a solution is already there but Bitcoin can't be a solution if it stays where it is. The Blocks are already full. Bitcoin couldn't handle enough transactions to be a solution for existing problems.

I don't want to say it's doomed because I hope that it will be improved but something needs to happen or another Cryptocurrency will take over - Ethereum for example and I wouldn't like to see that.

About Factom, company vs token: The value of Factoids will reflect the use of the system (because every time somebody buys EC's, Factoids are burned through conversion into EC'S). The company does a lot to get customers for the protocol and they are very good in that.

And I believe it's even possible that the marketcap of Factoids could be above the value of the company.

[mtnsaa]

 If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company).

bitcoin does solve a number of problems.. the most notable is transfer of money over the internet without a bank.. OH, and it is huge!!

edit:  why do you compare btc to a company??   is gold a company??

People just use banks and credit cards (and Paypal, Google Wallet, Apple Pay, whatever). I agree with you that people who don't have access to banks can benefit, but these are usually non tech savvy people who won't figure out how to work even the simplest wallets. Plus, how they buy Bitcoin with in the first place? Cash? nope...credit cards, banks, etc. I know because it happened to me, getting Bitcoin is a pain in the ass in third world countries, there's no simple and safe solution like Coinbase or whatever.

I understand what you are saying though, Bitcoin proposes a solution but the problem is not there yet, in terms of market at least. I  was comparing cryptocurrencies and blockchains, some have a company behind (like Factom and Ripple) so it's not clear where's the value at, if in the company or the token/currency (I think on both).

Regarding Bitcoin: I believe it's the other way around. The problem for that Bitcoin could be a solution is already there but Bitcoin can't be a solution if it stays where it is. The Blocks are already full. Bitcoin couldn't handle enough transactions to be a solution for existing problems.

I don't want to say it's doomed because I hope that it will be improved but something needs to happen or another Cryptocurrency will take over - Ethereum for example and I wouldn't like to see that.

About Factom, company vs token: The value of Factoids will reflect the use of the system (because every time somebody buys EC's, Factoids are burned through conversion into EC'S). The company does a lot to get customers for the protocol and they are very good in that.

And I believe it's even possible that the marketcap of Factoids could be above the value of the company.

Factom marketcap is ridiculous undervalued and many here tried to explain it, maybe it is heavy manipulation I really don't know. What I know is that last time I checked Maid, Doge and other bad jokes (sorry but really...) were well above it. Don't get me started on Steem.

Maybe Bitcoin gets an upgrade before the end of the year, I don't really think that's the real problem though, I can send BTC just fine. The problem is that no one wants to spend it because you are losing money doing that considering all the fees passing from fiat to BTC. For many it's pretty simple but for the majority it just doesn't make sense, it's cumbersome and expensive (and now it's painfully slow on top of that). I also understand many anarchists concepts behind it, I won't get into that, to me it's too out there to think the world economic system will collapse. It has been collapsing my whole life. It may transition into something different but BTC won't be world's currency unless it was actually designed to be just that (and if this would be the case we would be rich so there's no point in arguing...)

Anyway, even if BTC was just as quick as Ripple for example, this won't change anything. Regular people won't mess with decimals and wallets and conversions. So it kinda reinvented itself as a storage of wealth or digital gold for now. We'll see if that alone will do fo the next years.

We may have digital gold (BTC), oil/gas (ETH?), we even have tokens that act as equity and shares now...but do we have digital cash? quick, simple, old fashioned cash? That would be the blockchain killer app.

[tempus]

 If Bitcoin solved one problem it will be huge, not 10 billion marketcap (which is ridiculous, it's not even close to a blue chip company).

bitcoin does solve a number of problems.. the most notable is transfer of money over the internet without a bank.. OH, and it is huge!!

edit:  why do you compare btc to a company??   is gold a company??

People just use banks and credit cards (and Paypal, Google Wallet, Apple Pay, whatever). I agree with you that people who don't have access to banks can benefit, but these are usually non tech savvy people who won't figure out how to work even the simplest wallets. Plus, how they buy Bitcoin with in the first place? Cash? nope...credit cards, banks, etc. I know because it happened to me, getting Bitcoin is a pain in the ass in third world countries, there's no simple and safe solution like Coinbase or whatever.

I understand what you are saying though, Bitcoin proposes a solution but the problem is not there yet, in terms of market at least. I  was comparing cryptocurrencies and blockchains, some have a company behind (like Factom and Ripple) so it's not clear where's the value at, if in the company or the token/currency (I think on both).

Regarding Bitcoin: I believe it's the other way around. The problem for that Bitcoin could be a solution is already there but Bitcoin can't be a solution if it stays where it is. The Blocks are already full. Bitcoin couldn't handle enough transactions to be a solution for existing problems.

I don't want to say it's doomed because I hope that it will be improved but something needs to happen or another Cryptocurrency will take over - Ethereum for example and I wouldn't like to see that.

About Factom, company vs token: The value of Factoids will reflect the use of the system (because every time somebody buys EC's, Factoids are burned through conversion into EC'S). The company does a lot to get customers for the protocol and they are very good in that.

And I believe it's even possible that the marketcap of Factoids could be above the value of the company.

Factom marketcap is ridiculous undervalued and many here tried to explain it, maybe it is heavy manipulation I really don't know. What I know is that last time I checked Maid, Doge and other bad jokes (sorry but really...) were well above it. Don't get me started on Steem.   

If Factom will succeed it is undervalued. If not - not. But yes, since I believe it will be big and has potential to grow I agree. But in general it's impossible to evaluate something in Crypto. But, I wouldn't call Maid a bade joke. They are serious and it's a great idea in my opinion, could even be a good combination with Factom if successful. My concern is more that it nearly seems over-ambitous.

Maybe Bitcoin gets an upgrade before the end of the year, I don't really think that's the real problem though, I can send BTC just fine.

We can send BTC - true. But we are only a few million users and most of the transactions are done off-chain on exchanges. Bitcoin is about speculation, just a few really use it. If it would be about 50 Mio people or 500 Mio people - Bitcoin couldn't handle it right now while it already could be useful for whole countries if you think of Africa or other poor countries and people without access to the financial system etc.

The problem is that no one wants to spend it because you are losing money doing that considering all the fees passing from fiat to BTC. For many it's pretty simple but for the majority it just doesn't make sense, it's cumbersome and expensive (and now it's painfully slow on top of that). I also understand many anarchists concepts behind it, I won't get into that, to me it's too out there to think the world economic system will collapse. It has been collapsing my whole life. It may transition into something different but BTC won't be world's currency unless it was actually designed to be just that (and if this would be the case we would be rich so there's no point in arguing...)

I see the problem more in block-size-problem. Because: If the blocks are full and transactions are not executed people will begin to pay higher fees to get their transactions done. That will make Bitcoin unattractive for those who could benefit most. Transactions will become expensive and that can't be the sense of a system like Bitcoin. So it needs solutions and there are two scenarios:

1) Solutions for Bitcoin
2) Solutions besides of Bitcoin --> competitors will take over

Anyway, even if BTC was just as quick as Ripple for example, this won't change anything. Regular people won't mess with decimals and wallets and conversions. So it kinda reinvented itself as a storage of wealth or digital gold for now. We'll see if that alone will do fo the next years.

Ripple is not a real blockchain-system and it is not decentralized. I wouldn't compare it. The other problems you speak of are no problems in my opinion. It is important that Cryptocurrencies become more user-friendly but that is in progress and won't be a problem. Also the question how fast Bitcoin is - I believe it is okay now, if we compare it to usual money-transfers that can take a week if it's about different countries while it's about 20 minutes in Bitcoin or just 10 with a high fee.

Regular people will use Bitcoin or something like Bitcoin if they feel more pressure on side of the established system and lower barriers in Crypto - userfriendly, secure. And while it's possible to build user-friendly applications (many already are) it is not easy for average people to store Crypto-money secure.

But: Without any doubt there will be solutions in future. We just see the first steps in "Blockchain-History" but also fast progress and a lot of innovations. Just for example: https://www.lykke.com

Also a project that makes it's first steps into the public but it is an already working semi-decentralized exchange with a very user-friendly App and they focus very much on security and so on. It will combine the best of two worlds x two worlds:

decentralized and centralized
Crypto and Fiat

I believe it will be about projects like that in Future. Factom, Lykke, also something like Maidsafe etc. There is a lot that is already there but under heavy development and not finished yet. And without any doubt: People will use it.

 
We may have digital gold (BTC), oil/gas (ETH?), we even have tokens that act as equity and shares now...but do we have digital cash? quick, simple, old fashioned cash? That would be the blockchain killer app.

It will come. Zcash already could be a step into the right direction but I have some concerns about it (trusted setup - if it is how I understand it until now). And also Bitcoin could become digital cash. Even Factom could help with that. And in fact we have a lot of digital cash because guys like you and me can use even Factoids as digital cash.

[accripteau]

And I believe it's even possible that the marketcap of Factoids could be above the value of the company.

Without a doubt. Because developers can use Factom's technology without any assistance from Factom Inc, there is incredible value there. Considering the lack of inflation and burning of tokens upon use, it has THE best economic model of all cryptos (at least until M3).

[tempus]

And I believe it's even possible that the marketcap of Factoids could be above the value of the company.

Without a doubt. Because developers can use Factom's technology without any assistance from Factom Inc, there is incredible value there. Considering the lack of inflation and burning of tokens upon use, it has THE best economic model of all cryptos (at least until M3).

Absolutely agree! Couldn't have said it better!

[crazyivan]

Yes, yes, we all agree on that. However, it does not change the fact that whale or a group of manipulators plays the market by dumping 50-150 BTC every day or two, keeping the market under their control. In other words, if this is all so nice and dandy, why the fuck people do not buy Factom and break out of their hands. The easiest way to make them go away is to let them get burned.

[accripteau]

Yes, yes, we all agree on that. However, it does change the fact that whale or a group of manipulators plays the market by dumping 50-150 BTC every day or two, keeping the market under their control. In other words, if this is all so nice and dandy, why the fuck people do not buy Factom and break out of their hands. The easiest way to make them go away is to let them get burned.

I agree that that's probably happening but there's nothing that can be done about it other than try to grab a few more during dumps. If you believe in Factom, but lack whaleness, the only option is to buy and hodl long term.

[tempus]

Yes, yes, we all agree on that. However, it does change the fact that whale or a group of manipulators plays the market by dumping 50-150 BTC every day or two, keeping the market under their control. In other words, if this is all so nice and dandy, why the fuck people do not buy Factom and break out of their hands. The easiest way to make them go away is to let them get burned.

I don't see that as a problem because I believe it could be healthy to build a price-base at the current range, while weak hands sell because of impatience. It avoids dumping on release because weak hands already will be out when M2 and exodus etc. will come.

And: Market-manipulation can't ever be excluded. All markets with some volume are manipulated and without it there would be less volume. The only question that matters is the own strategy and if it will turn out as good or bad. My own strategy is to do nothing but being patient. Factom was always good in rewarding those who are while it was very frustrating for those who based their decisions on daily prices. Many sold in June and July between 130 and 230 k and feel stupid now.

[schnötzel]

Yes, yes, we all agree on that. However, it does change the fact that whale or a group of manipulators plays the market by dumping 50-150 BTC every day or two, keeping the market under their control. In other words, if this is all so nice and dandy, why the fuck people do not buy Factom and break out of their hands. The easiest way to make them go away is to let them get burned.

I agree that that's probably happening but there's nothing that can be done about it other than try to grab a few more during dumps. If you believe in Factom, but lack whaleness, the only option is to buy and hodl long term.

That´s the key: I don´t care about the price / low price is welcome because i buy and hold. You say things like  "best coin", will be big in few years... over and over but complain about the price BEFORE it even has begun. I don´t get it. This makes only sense to me when you are a whale and care about few cents up n down. Or what´s the advantaged of 3 over 5 Dollar?

[crazyivan]

I ve been in crypto since mis 2012. Do you know how many stories of this kind I ve read during this time? Almost every single coin has had similar story. Buy, hold, future brings really dandy stuff. Litecoin, Feathercoin, Doge, Vert, Solar, Fresh, Aurora, etc, etc. Almost each and every of this coins promised bright future to its holders and has had an army of avid supporter in some period of their development. Guess what, not a single one of these reached what they expected it to be. At least from the current perspective.

This is why I do not buy that lovely jowely story, buy, set it and forget it cause the future brings great stuff. The fact is Factom market does not react to market essentials due to something, probably heavy manipulation by someone. This is a MAJOR element which makes me really uncomfortable. Will decide what to do next with my stash in the next few days. 

[mtnsaa]

I ve been in crypto since mis 2012. Do you know how many stories of this kind I ve read during this time? Almost every single coin has had similar story. Buy, hold, future brings really dandy stuff. Litecoin, Feathercoin, Doge, Vert, Solar, Fresh, Aurora, etc, etc. Almost each and every of this coins promised bright future to its holders and has had an army of avid supporter in some period of their development. Guess what, not a single one of these reached what they expected it to be. At least from the current perspective.

This is why I do not buy that lovely jowely story, buy, set it and forget it cause the future brings great stuff. The fact is Factom market does not react to market essentials due to something, probably heavy manipulation by someone. This is a MAJOR element which makes me really uncomfortable. Will decide what to do next with my stash in the next few days. 

It has been said a lot of times but honestly, I think we'll see $5 and more once M2 gets released along with exodus wallet, Factom is still unknown to many and it seems "boring" to most. After M2 companies will be able to buy EC directly with fiat AFAIK, no messing with factoids or any technical crypto stuff whatsoever. So Factom the company could start getting revenue and deals.

I can really see a real bubble happening if an actual long term deal with a big company is announced, I'm talking about prices above $10 which is what most feel should be by now...